Howard Leaman Dec 13/19
Canola traded on both sides of unchanged on Friday, ending higher. The
market was supported by spillover buying from the soy complex and the
Canadian dollar's failure to rally above $.76 U.S. on a sustainable basis.
The dollar did edge above that level on Friday, but retreated to trade near
Thursday's closing levels. Reports that China and the U.S. had reached a
trade deal lent some support to the oilseeds, but not as much as some had
hoped. The deal avoids new tariffs that were scheduled to come into effect
on Sunday, but otherwise there were few details about the deal, and traders
were apparently reluctant to chase prices higher until they learn more.
The buying in canola was curbed by reports of ample Canadian canola in
commercial positions and continued concerns about Chinese/Canadian trade
Mch Canola 474.10 462.50
May Canola 484.10 470.40
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.